Austria's central bank raises 2022 inflation forecast

BERLIN - Austria's national bank on Monday raised its inflation forecast for this year to 5.6% from 5.3% predicted last month as energy prices and the economic impact of the war in Ukraine hit consumer prices.

Inflation, as measured by the Harmonised Index of Consumer Prices (HICP), is expected to ease to 2.9% in 2023 and be at 2.2 the year after with falling energy commodity prices, base effects and supply chain bottlenecks easing, the bank added.